Business, 18.10.2019 19:20 dinosaur10

Malo inc. uses a fiscal year ending june 30. on may 29, malo received a check for $3,900 from a business that leases parking spaces in malo’s parking garage. this payment was for the three-month period beginning june 1. on june 15, malo sent an invoice for $5,500 to a customer for services rendered during may and june. malo received payment from the customer on july 3.if malo is a cash basis taxpayer, how much income should it recognize from the given transactions in the current fiscal year?

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Malo inc. uses a fiscal year ending june 30. on may 29, malo received a check for $3,900 from a busi...

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